Shoes and apparel retailer Finish Line Inc. (FINL: Quote) posted lower first-quarter net income attributable to the company of $12.28 million or $0.24 per share, compared with $16.42 million or $0.30 per share last year.
Consolidated net sales, inclusive of Finish Line and The Running Company, went up 6.5% to $319.05 million from $299.47 million in the prior-year quarter. Comparable-store sales rose 8.0% on top of a 6.5% increase for the same period a year ago.
On average, 12 analysts polled by Thomson Reuters expected earnings per share of $0.23 on $320.68 million revenues for the quarter. Analysts' estimates typically exclude one-time items.
Additionally, Finish Line has revised its full-year earnings per share view to increase between 6% - 7% over the $1.53 in fiscal 2012, excluding the $0.07 impact from the 53rd week, up from its earlier guidance of mid-single digit growth. This outloook assumes an annual comparable store sales rise of 5% - 6%. Thirteen analysts project earnings per share of $1.64 for the full year.
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by RTT Staff Writer
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